As of July 10, 2024, notable shifts in U.S. Bitcoin ETF holdings demonstrate significant market movements and investor sentiments. BlackRock IBIT leads with an impressive net inflow, adding 3,324 BTC to its holdings, now totaling 310,470 BTC. This major increase suggests robust investor confidence and strategic accumulation within this fund.

Fidelity’s FBTC also saw considerable growth, with a net inflow of 1,093 BTC, bringing its total to 171,857 BTC. Other ETFs like ARK Invest’s ARKB and Bitwise’s BITB reported positive inflows of 150 BTC and 197 BTC, respectively, indicating sustained investor interest. Conversely, Grayscale’s GBTC experienced a downturn, with a net outflow of 540 BTC, reducing its holdings to 273,709 BTC.

In total, these movements resulted in a net increase of 4,451 BTC across all U.S. Bitcoin ETFs, bringing the total holdings to 873,315 BTC valued at approximately $50.7 billion. This substantial net inflow of $258 million underscores vigorous market activity and highlights the growing institutional interest in Bitcoin investments within the ETF structure, marking a significant phase of capital influx and strategic portfolio adjustments in the crypto finance sector.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Block, Inc. and Core Scientifichave announced a agreement to enhance bitcoin mining. Block’s Proto team will supply Core Scientific with revolutionary 3 nanometer mining ASICs capable of approximately 15 EH/s of hashrate. This partnership, one of the largest in the industry based on hashrate, also allows for potential expansion, marking a significant advancement in mining technology and efficiency.

The collaboration aims to democratize bitcoin mining by developing a modular mining platform that optimizes space and resources in data centers like those of Core Scientific. This initiative not only promises improved efficiency and reliability but also emphasizes sustainability by integrating with existing infrastructure. “This agreement exemplifies our vision of advancing the mining industry,” said Thomas Templeton, Proto team lead at Block.

Russell Cann of Core Scientific highlighted the joint effort to pioneer a next-generation mining solution that supports significant hashrate growth and provides diverse options for all mining companies. This partnership is poised to redefine large-scale bitcoin mining operations, contributing to the longevity and vitality of the Bitcoin Network.

Source

Company Name: Foundation Devices

Founders: Zach Herbert, Ken Carpenter and Jacob Johnston

Date Founded: March 2020

Location of Headquarters: Boston, MA and remote (worldwide)

Amount of Bitcoin Held in Treasury: Foundation holds bitcoin but didn’t disclose the amount

Number of Employees: 24 full-time employees

Website: https://foundation.xyz/

Public or Private? Private

Zach Herbert wants to make bitcoin self-custody accessible to everyone.

This is why the co-founder and CEO of Foundation Devices, a company that makes Bitcoin hardware and software wallets, has spent the last four years building Bitcoin technology that’s not only secure and open-source but also as usable as products made by…

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The City of Santa Monica made history by becoming the first city in the U.S. to open an official Bitcoin office. The city council unanimously voted to pilot the office in partnership with the nonprofit Proof of Workforce at no cost to the city.

The office has four key goals, as per the PR sent to us: providing Bitcoin education, facilitating partnerships and conferences to grow tourism, connecting residents to jobs, and exploring sustainable Bitcoin mining powered by the city’s renewable energy.

Vice Mayor Lana Negrete, who championed the initiative, said, “As we embark on a journey to learn Bitcoin in Santa Monica, I’m excited to see the following ideas. Bitcoin is for everyone!”

Santa…

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The ETH2 Beacon Deposit Contract now holds an all-time high of 47.36 million ETH, representing 33.9% of the entire Ethereum supply. This marks a dramatic increase from the 10.9% it held two years ago, reflecting growing confidence and participation in the network’s transition to a proof-of-stake (PoS) consensus mechanism.

Data from Santiment reveals that wallets with 10 million or more ETH, particularly those associated with the Beacon Deposit Contract, have seen a 23.0% increase in supply over the past two years. Conversely, wallets holding 10,000 ETH or more, excluding the Beacon Deposit Contract, experienced a 5.3% supply drop in the same period. This shift underscores the significant migration of Ethereum holdings into staking as users seek to support the network and earn rewards.

Wallets with 10,000 ETH or less have seen a 17.7% decrease in supply, indicating a redistribution of assets towards larger staking pools. This trend highlights the growing commitment to Ethereum 2.0 and the evolving dynamics of Ethereum’s supply distribution as it moves towards a more sustainable and efficient blockchain ecosystem.